September 4, 2012: Hyderabad based Biotechnology firm Transgene Biotek has informed the BSE that the shares of the company will be delisted from Indian stock exchanges. The company did not disclose the reasons the delisting.

The board of directors of the Transgene has met on 3rd September 2012 and taken a decision to delist the shares of the company from all the stock exchanges in India. The company is also listed Luxembourg Stock Exchange along with BSE (Bombay Stock Exchange).

The proposal for delisting the company shares is subject to approval from statuatory bodies of the concerned. The company shares were traded in BSE at Rs 11.25 per share, up 4.85 percent from the previous close.

Transgene Bioteck was founded by Koteswara Rao about two decades back. This is one of the first biotech companies in India. The company has products in areas of cancer, auto immunity and other bio-generics.

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